The fate of Kanye West’s Yeezy shoe stock is still unknown
NEW YORK: The Adidas brand has reportedly not yet made a decision on the ‘fate’ of the Yeezy collection as a result of its collaboration with rapper Kanye West, or Ye, which is worth US$1.2 billion (RM5.43 billion).
Citing the BBC, the collection of shoes that still exists is expected to receive a response from Ye’s fans who are seen to be unimpressed by his previous anti-Semitic statements.
Adidas CEO Bjorn Gulden said the firm was considering selling the shoes and donating the profits to charity.
At the same time, Gulden told his party to reject other actions such as burning it.
“Giving it up for free is also complicated. This is because the resale value is seen starting to rise.
“According to John Mocadlo, the individual responsible for reselling US Impossible Kicks shoes, a pair of Yeezy 350 ‘Zebra’ shoes are currently sold between US$340 (RM1,538) and US$360 (RM1,628) compared to around US$260 (RM1,176) for four last month,” he said.
Adidas cut ties with Ye last October, following a series of anti-Semitic remarks he made on social media. His controversies in several interviews also caused Twitter and Instagram to limit access to his account.
Meanwhile, Adidas also announced a dividend cut for 2022 after warning that parting ways with Ye would result in it posting its first annual loss in three decades this year.
Adidas has not disclosed how much it has earned from the Yeezy brand since its first partnership with Ye began in late 2013, but analysts estimate it accounted for about seven percent of overall sales in its best years.
